Question
In: Statistics and Probability
the avg price for 10 televsions from one manufacturer is $687. the avg price of 13...
the avg price for 10 televsions from one manufacturer is $687. the avg price of 13 teles from the manufacturer is $705. The standard deviations are $23 and $42 respectively. Assume the price of the televisions for both manufacturers is normally distributed.
a) Is there sufficent evidence to suggest the first manufacturers televisions are less expensive than the second manufacturers?
b)If the sample size were increased to 36 and 38 respectively, how would this change your decision?
C)Do you consider the significance observed to be practical, statistical, or both?Why?
Solutions
orchestra answered 2 years agoRelated Solutions
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13. If a 10% increase in the price of
gas causes a 40% decrease in the demand for standard sized autos,
then the cross-price elasticity of demand is:
Possible answers: -4.00 -3.00
-2.50 -2.00
-1.75 -1.33
14. If the price elasticity of demand of for gasoline is 2.7, then
a 20% increase in the quantity demanded is caused by:
Possible answers: a. 7.41% decrease in the price of
gasoline
b. 8.33% increase in the price of
gasoline
c. 11.54% decrease...
A manufacturer of photographic flash batteries took a sample of 13 batteries from the production of...
A manufacturer of photographic flash batteries took a sample of
13 batteries from the production of any given day and used them
continuously until they were used up. Battery life in hours until
it ran out was: 342, 426, 317, 545, 264, 451, 749, 631, 512, 266,
492, 562 and 298. With a significance level of 0.05, there is
evidence that the Battery life is more than 400 hours? (assume that
life times have normal distribution)
The manufacturer of an MP3 player wanted to know whether a 10% reduction in price is...
The manufacturer of an MP3 player wanted to know whether a 10%
reduction in price is enough to increase the sales of its product.
To investigate, the owner randomly selected eight outlets and sold
the MP3 player at the reduced price. At seven randomly selected
outlets, the MP3 player was sold at the regular price. Reported
below is the number of units sold last month at the regular and
reduced prices at the randomly selected outlets. Regular price 138
121...
The manufacturer of an MP3 player wanted to know whether a 10% reduction in price is...
The manufacturer of an MP3 player wanted to know whether a 10%
reduction in price is enough to increase the sales of its product.
To investigate, the owner randomly selected eight outlets and sold
the MP3 player at the reduced price. At seven randomly selected
outlets, the MP3 player was sold at the regular price. Reported
below is the number of units sold last month at the regular and
reduced prices at the randomly selected outlets.
Regular price
135
121...
The manufacturer of an MP3 player wanted to know whether a 10% reduction in price is...
The manufacturer of an MP3 player wanted to know whether a 10%
reduction in price is enough to increase the sales of its product.
To investigate, the owner randomly selected eight outlets and sold
the MP3 player at the reduced price. At seven randomly selected
outlets, the MP3 player was sold at the regular price. Reported
below is the number of units sold last month at the regular and
reduced prices at the randomly selected outlets.
Regular price
136
128...
The manufacturer of an MP3 player wanted to know whether a 10% reduction in price is...
The manufacturer of an MP3 player wanted to know whether a 10%
reduction in price is enough to increase the sales of its product.
To investigate, the owner randomly selected eight outlets and sold
the MP3 player at the reduced price. At seven randomly selected
outlets, the MP3 player was sold at the regular price. Reported
below is the number of units sold last month at the regular and
reduced prices at the randomly selected outlets.
Regular price 138 121...
The manufacturer of an MP3 player wanted to know whether a 10% reduction in price is...
The manufacturer of an MP3 player wanted to know whether a 10%
reduction in price is enough to increase the sales of its product.
To investigate, the owner randomly selected eight outlets and sold
the MP3 player at the reduced price. At seven randomly selected
outlets, the MP3 player was sold at the regular price. Reported
below is the number of units sold last month at the regular and
reduced prices at the randomly selected outlets.
Regular price
131
122...
The manufacturer of an MP3 player wanted to know whether a 10% reduction in price is...
The manufacturer of an MP3 player wanted to know whether a 10%
reduction in price is enough to increase the sales of its product.
To investigate, the owner randomly selected eight outlets and sold
the MP3 player at the reduced price. At seven randomly selected
outlets, the MP3 player was sold at the regular price. Reported
below is the number of units sold last month at the regular and
reduced prices at the randomly selected outlets. Regular price 138
124...
The manufacturer of an MP3 player wanted to know whether a 10% reduction in price is...
The manufacturer of an MP3 player wanted to know whether a 10%
reduction in price is enough to increase the sales of its product.
To investigate, the owner randomly selected eight outlets and sold
the MP3 player at the reduced price. At seven randomly selected
outlets, the MP3 player was sold at the regular price. Reported
below is the number of units sold last month at the regular and
reduced prices at the randomly selected outlets.
Regular price
132
127...
The manufacturer of an MP3 player wanted to know whether a 10% reduction in price is...
The manufacturer of an MP3 player wanted to know whether a 10%
reduction in price is enough to increase the sales of its product.
To investigate, the owner randomly selected eight outlets and sold
the MP3 player at the reduced price. At seven randomly selected
outlets, the MP3 player was sold at the regular price. Reported
below is the number of units sold last month at the regular and
reduced prices at the randomly selected outlets.
Regular price
131
124...
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